CISR Will Back Leather-Focused Startups & Entrepreneurs: MoS Jitendra Singh

SUMMARY

Singh said that the country’s leather sector has persistently secured high export earnings and is presently considered a top foreign exchange-earners for the nation

The minister highlighted that the Yogi Adityanath-led government has considered leather goods as an ODOP (One District One Product) for Agra and Kanpur districts

“The global leather goods market size is valued at $424 Bn in 2022 and expected to reach $744 Bn by 2030. Thus, India must tap the huge potential in the global leather pie,” he added

Central Leather Research Institute (CSIR-CLRI) of Uttar Pradesh’s technology development board will back potential startups and entrepreneurs present in the leather industry with seed funding, said MoS for Science and Technology, Jitendra Singh.

Singh further said that the country’s leather sector has persistently secured high export earnings and is presently considered a top foreign exchange-earners for the nation. He further called Indian youth to participate in the leather startup ecosystem.

Sharing more details about the initiatives that the CSIR-CLRI will take to promote leather startups, Singh said the institute is going to conduct surveys of leather and allied industries for students. Besides, practical demonstrations, trade counselling, vocational and tailor-made training programmes, consultancy services, students’ internship at regular intervals will also be there.

The minister highlighted that the Yogi Adityanath-led government has considered leather goods as an ODOP (One District One Product) for Agra and Kanpur districts. The state government is also formulating strategic interventions to develop the cited districts.

Singh also noted that India achieved the position of the second largest exporter of leather garments and also, now the fifth largest exporter of leather goods across the globe. “The global leather goods market size is valued at $424 Bn in 2022 and expected to reach $744 Bn by 2030. Thus, India must tap the huge potential in the global leather pie,” he added.

In the end, he said that the country’s youth has the potential to fulfill the rising demand for leather apparel, footwear, and accessories.

Founded in 1963, Kanpur-based CLRI Regional Centre is one of the four centres of the main body–CLRI. It was originally established to promote leather markets of Uttar Pradesh and Madhya Pradesh. It is also equipped with chemical, physical and eco-testing laboratories.

The development has come at a time when the country’s leather industry is largely operated in an unorganised manner by traditional leather traders.

Moreover, the country’s leather industry, which stood at $13 Bn in 2020, is likely to become a $25 Bn market by 2030. A few startups operating in this space are Nappa Dori, The Sole Sisters, The Black Canvas, The Trunks Company, and The Burlap People.